San Diego Business Journal

Prudential Acquires Mission Valley Office Property for $56.8 Million

Thursday, October 3, 2013

Prudential Real Estate Investors has purchased the Rio San Diego Plaza office building in Mission Valley for approximately $56.8 million, according to CoStar Group and public data.

The seller of the 189,490-square-foot-property, at 8954 Rio San Diego Drive, was AEW Capital Management of Boston, represented by the San Diego office of brokerage services company Jones Lang LaSalle.

Rio San Diego Plaza was approximately 84 percent leased at the time of sale, with tenants including Union Bank of California and Kaiser Foundation Healthcare.

The property was built on 7.75 acres in 2001. It was acquired through the Atlanta office of the New Jersey-based real estate investment division of Prudential Financial Inc.

— SDBJ Staff Report